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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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A S RAMSAY BUILDING CONTRACTORS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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FOR |
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A S RAMSAY BUILDING CONTRACTORS LIMITED |
A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A S RAMSAY BUILDING CONTRACTORS LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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BALANCE SHEET |
31 MARCH 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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BALANCE SHEET - continued |
31 MARCH 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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1. | STATUTORY INFORMATION |
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A S Ramsay Building Contractors Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer Equipment | - |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | Equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2020 |
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Additions |
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At 31 March 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for period |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 July 2020 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 31 March 2021 |
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DEPRECIATION |
Charge for period |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Accrued income |
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Prepayments |
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A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2020 TO 31 MARCH 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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VAT | 78,509 | 101,072 |
Other creditors |
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Directors' loan accounts | 7,829 | 15,031 |
Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Hire purchase contracts |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the period, A S Ramsay increased his loan to the company. As at 31 March 2021, the company owed him £7,829 (2020: £15,031). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand. |
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Also during the period, the company paid £4,236 (2020: £4,236) to J M Godman and £2,248 (2020: £2,248) to A S Ramsay as a result of utilising office space within their home. |
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9. | POST BALANCE SHEET EVENTS |
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Prior to the balance sheet date and prior to the approval of these accounts an outbreak of the COVID-19 virus occurred causing a global pandemic recognised by the World Health Organisation (WHO). The effect of UK Government measures to limit the spread of the virus have been widespread, urging people to remain at home wherever possible, including to work from home if available and to undertake "social distancing" measures. |
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In response to this situation management of the company have assessed the impact of any measures put in place by the government and the directors continue to monitor the situation as it rapidly changes and will react to further developments. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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This was by virtue of their 100% holding of the issued share capital. |